“In Russia, the canned meat retail sales will increase by 6.7% in times of 2020 crisis,” said BusinesStat’s analysts in an interview to “Vetenaria i Zhizn”.
They conducted a research called “Analysis of Russian canned meat market in 2015–2019, coronavirus impact evaluation and 2020–2024 forecasts.”
“According to our forecasts, in times of 2020 crisis, the retail canned meat sales will increase by 6.7%. The main reason is the predicted downfall of the population’s effective revenues. The canned meat is traditionally a cheaper replacement of fresh meat,” the researchers said.
The analysts also said that an important role will also play the fact that the consumers will purchase foods “as a reserve” during the COVID-19 pandemic. The retail canned meat sales are projected to decrease in 2022–2024 as a result of the adaptation to the economic conditions, as well as the population decline.
“In the end of 2024, the retail canned meat sales will reach 74.6 ths t, which is by 3.9% lower than in 2019,” the experts said. In 2019, about 77.6 ths t of canned meat were sold.
Last year there was also a growth in canned meat sales by 1.8% compared to 2018. The analysts explained that this trend is the result of the growth in the demand for the ready-to-eat canned foods and pastes.